Greece vows to implement tough new budget cuts

GREECE pledged to push tough new budget cuts through parliament despite mounting labour and social unrest as the new finance minister prepared to meet Athens’ international creditors.

“Every day has huge value and we cannot afford to lose a single hour,” Finance Minister Evangelos Venizelos, who took over the post on Friday, told reporters in Luxembourg after talks with his European peers.

Eurozone finance ministers called emergency talks on Greece for July 3 to finalise a second financial rescue package to avert a default.